There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Pioneer Natural (NYSE:PXD) and Conocophillips (NYSE:COP) with bullish sentiments.
Pioneer Natural (PXD)
In a report released today, Drew Venker from Morgan Stanley maintained a Buy rating on Pioneer Natural, with a price target of $236. The company’s shares closed yesterday at $173.69.
According to TipRanks.com, Venker is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.9% and a 36.4% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Occidental Petroleum, and Oasis Petroleum Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pioneer Natural with a $246.65 average price target.
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Conocophillips (COP)
Morgan Stanley analyst Devin McDermott maintained a Buy rating on Conocophillips today and set a price target of $84. The company’s shares closed yesterday at $67.82.
According to TipRanks.com, McDermott is a 3-star analyst with an average return of 6.6% and a 46.2% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Anadarko Petroleum, and Devon Energy Corp.
Currently, the analyst consensus on Conocophillips is a Moderate Buy with an average price target of $82.22.
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